#shorts Senator Kennedy asked SEC Chair Gensler, “I mean, here’s this young man. He did everything but buy Mount Rushmore. Weren’t you all curious where this guy was getting this money?
Gensler: I would say that in this summer of 2021, when we Wells noticed a very large crypto exchange in the U.S, they went on Twitter and said that we were sketchy. When we subpoenaed Doe Quan, this is all public, so I can say it, when we subpoenaed, we gave him a subpoena, he fought us in the district court,
Kennedy: but I’m not talking about how many lawyers can dance on the head of a pen. I’m talking about why didn’t you send somebody down? I guarantee you with his ego, Mr. Bankman-Freed would have welcomed you. He probably would have asked you to bring a film crew. You just send an investigator down, spend a half a day with these young people, come back, and go get an injunction, shut them down until they can answer some very basic, fundamental questions, like, for example, are they co-mingling funds? Why didn’t we do that? Why didn’t you do that? That’s what we pay you folks to do.
On 7/19/2023, Senator Kennedy confronted Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), questioning the agency’s authority and competence in curbing fraud within the cryptocurrency industry. He zeroed in on the case of FTX, the crypto exchange founded by the “over-haired” and “under-dressed” young billionaire, Sam Bankman-Fried. The senator expressed incredulity that the SEC had not proactively investigated FTX despite the conspicuous activities and grand ambitions of its founder. Kennedy highlighted that the SEC’s regulatory machinery, intended to guarantee transparency and combat fraud, appeared to have failed in the face of this disruptive new industry. He criticized the SEC for not sending investigators to probe FTX and for failing to halt its operations until basic, fundamental questions were answered.
other clips of this published longer video is here: https://youtu.be/6QPpqLOj1aw
Q: get an injunction, shut them down until they can answer some very basic questions